Tag Archives: Monero

Monero Will Soon be Removed From Bithumb

Monero Will Soon be Removed From Bithumb

Bithumb is set to become the latest Asian crypto exchange to officially remove Monero from its platform.

Not due to its privacy aspects, but rather because XMR is used to buy and sell illegal pornographic material. It has been coming for some time now, but Bithumb has finalized its decision on Monero.

Bithumb Gets rid of its Monero Trading Pairs

Several weeks ago ,the company announced that Monero would potentially be delisted in the near future. This is primarily due to an ongoing decline in XMR trading volume on the exchange. This decision will now be sped up due to a correlation between XMR and illegal pornographic material. Numerous people are using this currency to buy this material through Telegram. For Asian exchanges such as Bithumb, it is crucial to distance themselves quickly fro any sort of illegal transactions.

It is not the first time that an Asian exchange delists XMR either. In 2018 and 2019, virtually all other trading platforms took that step. Back then, there were concerns regarding Monero’s privacy and anonymity features, ad how they would facilitate illegal transactions. It seems unlikely that this decision will affect the XMR price or demand in any way. Earlier this year, Huobi also removed Monero from its platform.

Article Produced By
JP Buntinx

https://themerkle.com/monero-will-soon-be-removed-from-bithumb/

Heiko Closhen, Entrepreneur

Monero Interview: Shedding Light on the Coming 015 Upgrade and RandomX

Monero Interview: Shedding Light on the Coming 0.15 Upgrade and RandomX

On Tuesday, October 1st, Justin Ehrenhofer, the Monero Community Workgroup Organizer, discussed the coming Monero 0.15 update and RandomX in an exclusive interview with Blokt.com.

                                 

Monero, a leading privacy coin and top twenty cryptocurrency by market cap,

is due to have one of its two scheduled upgrades this month. Monero 0.15 will bring it with it some new security and privacy features, a new proof-of-work algorithm called RandomX, and other changes. I spoke to Justin Ehrenhofer, the Monero Community Workgroup organizer, to shed light on the new update, RandomX, and other developments occurring at Monero.

The interview went as follows:

The Monero 0.15 software update is coming this month, could you tell us about that?

Monero 0.15 is one of Monero’s scheduled upgrades that happen twice annually. It contains new privacy and security features, more refined code, and a better GUI user experience. New users will now connect to the network in a more decentralized manner, and they will have the option of connecting with an effective anonymizing network (i2p). Users can now easily connect to Monero nodes that are run behind firewalls, such as school or apartment connections. These changes substantially will improve the robustness of the Monero network. The largest change is RandomX, a new take on ASIC-resistance. While the long-term effectiveness of RandomX is yet to be seen, a tremendous amount of effort has gone into designing, developing, testing, and auditing the new mining algorithm. This algorithm is the strongest effort to-date to prevent ASICs from dominating the Monero network.

What is RandomX, and why is it being implemented?

RandomX is a new Proof of Work (PoW) algorithm that is optimized for general-purpose CPUs. The idea is over a year in the making and relies on random code execution that is difficult for specialized hardware to manipulate. RandomX isn’t meant to be “ASIC-proof,” but it hopes to close the efficiency gap so significantly that other financial factors discourage significant network control. ASIC manufacturers’ small efficiency gains must be compared to the lost financial option to sell used generic hardware, for instance. In a volatile market, the flexibility of CPUs in particular shine.

The Monero community rigorously discussed the best paths forward for this update. For two of the last three updates, Monero’s proof of work tweaks were easily incorporated by ASIC manufacturers, who dominated the network in just a few months. RandomX is a significantly more aggressive change than a tweak to CryptoNight, Monero’s current base algorithm. Presented with RandomX and ASIC-friendly algorithms as options to adopt for this update, the community decided that RandomX better retained Monero’s long-standing principles. Hopefully this remains the situation for a long time.

Can you tell us about the coming Tor and i2p improvements?

Tor and i2p allow users to better conceal their network metadata, such as their IP address, from other Monero users. The Monero CLI supports Tor and i2p. The GUI supports i2p. The GUI now works well with Tails, a privacy-focused operating system. While network metadata isn’t the only piece of information to worry about protecting, users can now easily defend against network surveillance and adversaries that attempt to correlate user IP addresses with transactions.

What are the regulatory challenges Monero faces? How will these be dealt with?

Monero is a decentralized project in an ever-changing regulatory landscape. It is supported on many US-regulated exchanges and other cryptocurrency exchanges abroad. I believe that Monero faces more of a perception problem than anything else. Conservative exchanges and services may avoid Monero if they lack the resources to justify their compliance decisions. Nevertheless, I’m optimistic that the importance of privacy is better understood now by the public than it was when Monero launched in 2014. Monero is also a much healthier project with hundreds of contributors who want to do good.

How can people stay up-to-date on the latest developments in the Monero ecosystem?

Users should subscribe to the [Monero-announce mailing list](https://lists.getmonero.org/postorius/lists/monero-announce.lists.getmonero.org/) at the bare minimum to learn about network updates. Beyond that, they can watch the monthly [Coffee Chats](https://youtube.com/c/monerocommunityworkgroup) or join the biweekly [community workgroup meetings](https://reddit.com/r/MoneroCommunity). Developers can follow projects on GitHub and join the biweekly developer meetings in #monero-dev.

The second edition of Mastering Monero is coming soon, can you tell us about the book?

Mastering Monero is a free, community-contributed resource that introduces readers to many of the idealistic and technical concepts of Monero. You can get print and digital copies from https://masteringmonero.com. The second edition is still in the early stages.

What might we see happen in the Monero ecosystem over the next 12 months?

As far as major protocol changes are concerned, keep an eye on ring signature upgrades. Omniring, Lelantus, and RingCT 3.0 offer alternative ways to improve Monero’s privacy and efficiency, though these still need further evaluation before being used in production. On the community side, I hope that the decision-making process is more formalized and accessible to newcomers. There are talks of the next Monero Konferenco in Europe, and Monero will hopefully have its own village at Defcon again next August.

Article Produced By
Darren Brazer

Managing Editor, Tech Journalist, and Financial Market Analyst. Darren has over four years of experience as a market commentator and two as a journalist. As Darren's experience in the blockchain industry has grown, so has his ability to spot stories, build industry contacts, and maintain a factually accurate standard of reporting.Darren started at [blokt] as a journalist, and due to his incredible attention to detail, he progressed to an Editor position. This was followed shortly after by his promotion to the Managing Editor position. He is responsible for maintaining our editorial process and guidelines for journalists, and for ensuring our editorial policy demands high professional and ethical standards from our writers.

https://blokt.com/news/monero-interview-shedding-light-on-the-coming-0-15-upgrade-and-randomx

Heiko Closhen, Entrepreneur

Is ItToo late to buy top Chryptocurrencies

Is vit too late to buy top chrptocurrencies

Is It Too Late to Buy the Top Cryptocurrencies

 

While the majority perceives digital currencies including Bitcoin, Monero, Dash and Ether as either a means of payment or a token for development, there still exists a relatively large group of users who consider these digital currencies as short and mid-term investments.

Many investors within the digital currency exchange market still inquire about the timing of their investment. For short and mid-term investment, is it too late to buy the mentioned digital currencies?

Issuance rate

Dash and Ether are different from most digital currencies such as Bitcoin or Monero in the sense that they have unique monetary policies.

Ethereum, for instance, is actually an inflationary token because it operates on top of a concept called the “Issuance Rate.” The Issuance Rate represents the number of Ethereum tokens or Ether that will be created within a year. In 2017, the issuance rate of Ether is 14.75 percent.

Making the creator rich

Dash is a controversial cryptocurrency because over two mln Dash – previously known as Darkcoin – was instantaneously mined in the first 30 hours of launch. Homero, a Bitcoin trader and cryptocurrency trader, wrote:

“During the first day 2M coins were mined, and as of today, less than 3k are mined daily. Even if there were no features/community at the time, he didn’t relaunch and decided to keep his instamine, claiming that the community told him to do so. Having a fair launch is very trivial for the future of a coin, because a premined coin has only one future : to make the creator rich.”

Bitcoin and Monero, on the other hand, were launched and mined with complete transparency and legitimacy and because of their open processes. They continue to be two of the most respected and appreciated cryptocurrencies currently in existence.

Trading and price

Since Bitcoin and Monero are based on a fixed supply of coins, it is quite evident that the value of the two coins will continue to rise until their supplies are maximized. In other words, Bitcoin price will continue to increase until it hits its 21 mln supply cap. Even when the supply cap is reached, if the demand of the currencies continues to increase, its price will maintain an upward trend.

For Ethereum and Dash, the second and third largest cryptocurrencies in the world, it is difficult to predict their price trends due to their unique monetary policies.

Furthermore, Ether is considered as an alt-asset instead of a digital currency because the Ethereum network uses gas or Ether to power decentralized applications, hence the necessity of an inflationary monetary supply.

Betting on usability

In general, cryptocurrencies including Bitcoin, Monero, Dash and Ethereum are all at their early stages. For both short and mid-term investors, it is important to recognize and evaluate the technical backgrounds and usability of these cryptocurrencies.

Ethereum developers or users will argue that the price of Ether will continue to increase so long as the development community remains active.

Conclusively, it is not too late to invest in cryptocurrencies that have potential to grow and evolve.

 

David Ogden
Entrepreneur

 

 

Source : TheCoinTelegraph

 

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Basic Rules for Beginners in bitcoin Trading

Basic Rules for Beginners in Bitcoin Trading

basic rules for trading

 

There has been a protracted debate on the actual identity of Bitcoin, whether it should be regarded as a currency or a commodity.

With reasonable support on each side of the debate based on its inherent characteristics, a huge segment of the ecosystem is of the opinion that Bitcoin can, and should be regarded as both a currency and a commodity.

Whatever definition attached to Bitcoin, the constant variation in price offers an opportunity for investors to make a profit by trading the cryptocurrency, either as a long term investment or in a speculative short term pattern.

What is Bitcoin trading?

Bashir Aminu, Bitcoin trader and convener of online crypto group Cryptogene, explains the basic Bitcoin trading process as follows:

“If you buy Bitcoins at one price and then sell them for a higher price, you make a profit of the difference between those two prices, less any commission that you paid. However, if the price goes down, you will be in the uncomfortable position of having to either sell them at a loss or hold and hope the price goes back up while risking higher and higher losses if the price continues to drop.”

There are two major types of traders in the Bitcoin market, they are ‘long term’ traders and ‘short term’ traders. Each of these group of traders are classified by how long they may wish to hold onto a given position of trade.

Long term traders are usually involved in studying price trends over long periods of time. This informs their decision to buy and hold Bitcoin also over long periods with the hope of taking profit at a price higher than their original entry point. With Bitcoin still in its developmental stages, a lot of users suggest that this is a good time to buy.

This suggestion is based on the assumption that with increasing use case scenario and more adoption, demand for Bitcoin and its associated technology will increase, thereby creating more demand for the cryptocurrency which will automatically cause an eventual increase in value. Glimpses of this have been observed with the surge in Bitcoin price which coincides with a boost in its market capitalization and volume of trade.

On the other hand, short-term traders analyze the intraday behavior of Bitcoin price and seek to take advantage of the swings in price. These traders thrive in market volatility, a factor that is presently characteristic of Bitcoin.

In its early stages, the swings in Bitcoin price was usually so huge as every little event within the crypto space had very serious impact on the price of the cryptocurrency. As adoption grows and Bitcoin becomes more stable, price volatility has reduced considerably and experts think it is a better time to trade the cryptocurrency, compared to an earlier time.

“Bitcoin is certainly safer to invest in now than it was a couple of years ago”, says Aminu.

 

Trading rules

Aminu describes Bitcoin trading as extremely profitable if you play your cards well. According to him, it all depends on the market movement pattern. He tells Cointelegraph that Bitcoin value rises and falls dramatically throughout each trading day, jumping in whole dollar amounts. A phenomenon which he identifies as very risky when misjudged.

Based on his trading experience, Aminu outlines a set of rules for newcomers who may wish to profit from the Bitcoin market as follows:

Never put all your eggs in one basket. Your capital should be broken into smaller lots for multiple positions at different price levels.

Do not invest your life savings or money that may change your life drastically in the event of a loss. This rule is important mainly due to the existing level of uncertainty that still exists within the Bitcoin market.

Take full advantage of available technology in order to gain maximum profit

Understanding the market is a continuous process and requires a lot of time, concentration and effort. It is very crucial to do research and be up to date with current trends.

Know when to cash in. It is important to stay focused, unemotional and professional.

Traders should keep in mind that losing, just as much as winning, is an integral part of trading. It is the cumulative gains that count.

If this sounds to complicated there is a proven way of automated trading in the top 10 Cryptocurrencies by joining Trade Coin Club who do the hard work for you allowing you to share in the profit at three levels of risk. This frees you from having to follow the markets, minute by minute or hour by hour.

David Ogden
Entrepreneur

 

By Iyke Aru

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Bitcoin wobbles as traders turn to other cryptocurrencies

bitcoin wobbles as traders turn to other cryptocurrencies

Bitcoin wobbles as traders turn to other cryptocurrencies

Bitcoin wobbles as traders turn to other cryptocurrencies

It's been a volatile period for Bitcoin investors, as holders of the cryptocurrency prepare for a potential 'fork' in the blockchain.

From Friday morning until Monday afternoon, Bitcoin was trading under the $1,000 level, and even fell beneath $900 on Saturday. This is significant as, barring the weekend of March 18 and 19, Bitcoin has traded above $1,000 since early February and hit a fresh all-time high of around $1,325 on March 10.

Bitcoin is currently back above the $1,000 handle, but is well off these recent highs, wiping billions off of its market cap value.

There are several causes for the recent volatility: Chinese regulators cracked down on Bitcoin exchanges, while U.S. authorities rejected a proposal for a Bitcoin-backed exchange-traded fund (ETF). The current concern is over the future of the Bitcoin technology.

Bitcoin faces a scaling issue, where the number of Bitcoin transactions that can happen on the blockchain at any one time is limited. This is creating a backlog of transactions that are needed to be processed and slowing down the system.

A group called Bitcoin Unlimited advocates for increasing the size of the blocks on the blockchain in order to process more transactions, but this has split the community. To increase the block size would involve splitting the blockchain, causing a fork and creating two major blockchains. This would effectively create two different coins and it's not clear which would become dominant.

As a result, investors are hedging their bets or selling out of Bitcoin, waiting to see whether or not the fork will happen, and if so, which blockchain will be favored by the market.

Data from Bitfinex indicates around 49 million more coins have been sold than bought, or roughly 5 percent of total coins traded, in the last 30 days. Through March, the number of long Bitcoin positions held by investors has decreased from 26,858 to above 23,142, while the number of short positions has increased from 9,820 to 14,731.

Meanwhile, the market cap of blockchain assets other than Bitcoin, such as ether, dash and monero, has more than doubled since March 10 from $3.5 billion to more than $7 billion, according to Chris Burniske, blockchain products lead analyst at ARK Invest.

"At the same time, Bitcoin's market cap has gone from $19 billion to $16 billion. Hence, Bitcoin's market cap has lost $3 billion in value while the combined market cap of all other blockchain assets has added more than $3 billion," he told CNBC via email.

"Given these market indicators, it would appear investors are diversifying their blockchain asset holdings, positioning themselves for a generally rising tide in this emerging asset class."

Whether or not the fork happens is hard to tell, but it may harm Bitcoin's brand, according to Jani Valjavec, co-founder of ICONOMI, a digital asset management platform for cryptocurrencies. Valjavec argues the brand is the main thing behind Bitcoin's value.

"It has wide acceptance now, real world use cases, it can be a great store of value, and it is currently trusted by the community. Our understanding is that a hard fork, instigated by two parties with very competing interests, will primarily weaken the brand," he told CNBC via email.

"The next biggest brand in the distributed economy is Ethereum, and that's why we believe it will benefit the most."

However, Fran Strajnar, co-founder & CEO of data and research company Brave New Coin, says the market is still within the parameters of a Bitcoin bull cycle.

"The proposed contentious fork is unlikely but better to happen now than in the distant future. We would end up with the original Bitcoin and remaining miners activating segwit (a well-designed package of system upgrades) and a new, much smaller, privatized alternative version of Bitcoin," he told CNBC via email.

"The sum result of all the network fork (fear, uncertainty and doubt) is we are seeing investors hedge by buying into ether. We expect a price drop if there is a fork but a similar outcome to Ethereum, where the long term market capitalization increases for both assets."

David Ogden
Entrepreneur

 

Luke Graham

 

 

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Cryptocoin and Blockchain Article Roundup – Feb 21, 2017

Cryptocoin and Blockchain Article Roundup – Feb 21, 2017

Here's an article that ties one idea, the DAO (Decentralized Autonomous Organization) in with the more recently popular topic of Blockchain. It really does make sense. The idea of the autonomous business entity won't die. Read some of the latest discussion about it in this article:

Rebranding The DAO: The Contentious Blockchain Concept is Back

Monero, the fifth largest digital currency by market capitalization, still struggles to build a 'white hat' reputation simply because of its advanced privacy feature which hi-brows think attracts 'the wrong crowd'. Read the latest discussion on the issue here:

Drugs, Code and ICOs: Monero's Long Road to Blockchain Respect

Oh goody-goody. California lawmakers want to protect charity raffles from the evils of bitcoin. It's a good thing they're not wasting time repairing dams. Read about it here:

California Lawmakers Consider Barring Bitcoin from Charity Raffles

New algorithm promises to make slow the trend toward centralization of Z-cash miners, thus democratizing the process. Read about it here:

How the Equihash Algorithm Could Democratize Zcash Mining

British Parliamentarians will discuss (or is it "debate"?) key issues about the status of bitcoin, digital currency, and the blockchain as it relates to money creation in English society. The UK government generally is pro-bitcoin but the banking establishment has been rather reticent to embrace it. Read about it here:

Money creation may well be the biggest economic issue of our times.

Could blockchain-related opportunities in one industry result in a talent and brain-drain from one industry to another? Probably not to any significant degree because the technology is creating opportunity almost everywhere. But it is creating some notable movement of some high achievers. Read one such example here:

Blockchain Capital Lures Bitcoin Analyst Away from Wall Street Firm

Well Buckaroos…that's our Cryptocurrency & Blockchain Article 6 Pack for today. Thanks for dropping by. You're also invited to join us over on Markethive where you'll find a vibrant digital community on online entrepreneurs. Our community if free to join and if you're promoting a business, brand, service, or cause online…Markethive has a great blogging system that will give you massive 'Reach'.

Also, if you need a freelance copywriter to help you with your business, contact me…Art Williams. Email here.

 

 

 

 

 

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